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2. Olga wants to make a $20 000 down-payment on a townhouse in four years when she finishes graduate studies. She is able to make

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2. Olga wants to make a $20 000 down-payment on a townhouse in four years when she finishes graduate studies. She is able to make an investment which offers an interest rate of 2.4%/a compounded monthly. Algebraically determine how much Olga should invest now, to the nearest dollar, so that she has enough money for the down-payment in four years? (3 marks) r 2

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